Own home is every family’s dream .But buying one is difficult as it involves lot of money which is not readily available at our disposal. Hence home loan comes handy by bridging the financial gap to help you aquire your dream home. with a wide variety of housing loans available in India, financing your dream home project has got simpler..
Home Loan Can Be Availed for :
If one has existing home , he can use the same to get loan against property to and utilize the fund at low rate to
Documents Required For Home Loan
A home equity loan is a type of loan in which the borrower uses the equity of his or her home as collateral. Home equity loans are often used to finance major expenses such as home repairs, medical bills, or college education. A home equity loan creates a lien against the borrower's house and reduces actual home equity.
Most home equity loans require good to excellent credit history, reasonable loan-to-value and combined loan-to-value ratios. Home equity loans come in two types: closed end (traditionally just called a home-equity loan) and open end (aka a home-equity line of credit). Both are usually referred to as second mortgages, because they are secured against the value of the property, just like a traditional mortgage. Home equity loans and lines of credit are usually, but not always, for a shorter term than first mortgages. Home equity loan can be used as a person's main mortgage in place of a traditional mortgage. However, one can not purchase a home using a home equity loan, one can only use a home equity loan to refinance. In the United States, in most cases it is possible to deduct home equity loan interest on one's personal income taxes.
We will give you a loan against your property. Be it commercial or residential. You can also apply for this loan if you need funds to acquire new property. A take-over of your existing loan with refinancing is also possible with Loan Against Property
Who is Eligible?
The following are the eligibility criteria depending upon the income profile-
Lease Rental Discounting (LRD):
An application for an Loan Against Property loan should feature the following documents:
|Proof of identity||Voter's ID card or driving license or PAN card or photo credit card or employee's ID card, or defense or police or government department ID card||Voter's ID card or driving license or PAN card or photo credit card|
|Proof of income||Latest salary slip showing all deductions or Form 16 along with recent salary certificate||IT Returns for the last 2 years and computation of income for the last 2 years certified by a CA|
|Proof of residence||Bank account statement or latest electricity bill or latest mobile or telephone bill or latest credit card statement or latest LIC policy or insurance premium receipt or employers letter certifying the current mailing address or latest NSC or other similar instruments indicating the address or existing house lease agreement||Bank account statement or latest electricity bill or latest mobile or telephone bill or latest credit card statement or latest LIC policy or insurance premium receipt or latest NSC or other similar instruments indicating the address|
|Bank statement or pass book where salary or income is credited||Last 6 months||Last 6 months|
|Lease Agreement||Copy of lease agreement required for all lease rental discounting cases||Copy of lease agreement required for all lease rental discounting cases|
Why to opt for Loan Against Property ?
Personal Loan are the loan provided without any Security. These are Short Term Loans which are available to meet expenses like.
Marriage of Daughter, Education of Child, to pay of Medical Bill and other contingencies. Available for Salaried Individuals
Do You want to buy your dream Car? What are you waiting for? Now you can get you dream car with in 3 Days. Finance available up to 85% of the cost of your Car.
Documents Required for the Loan: